Changes to the board of directors STENPROP LIMITED (Incorporated in Bermuda) (Registration number 47031) BSX share code: STP.BH JSE share code: STP ISIN: BMG8465Y1093 (“Stenprop” or the “company”) CHANGES TO THE BOARD OF DIRECTORS Shareholders are advised that, effective 14 September 2016, lead independent non-executive director, Michael Fienberg has resigned from the board of directors of Stenprop (the “board”) following a change of residency, and Paul Miller has been appointed as independent non-executive director. Paul is an English qualified solicitor with over 24 years’ international experience, with particular expertise in cross border mergers and acquisitions, joint ventures, international offerings, listed and unlisted funds and related governance and securities laws issues. A large part of his practice has always been focused on the real estate sector. Paul graduated from the University of Cape Town with Bachelor degrees in commerce and law and has been a partner at the international law firm Berwin Leighton Paisner LLP since 1999. Paul is also a director of Everglen Capital Partners LLP. Shareholders are further advised that, effective 14 September 2016, Stephen Ball, currently an independent non-executive director of Stenprop, has been appointed as lead independent non-executive director. The board thanks Michael for his significant contribution to the company and wishes him well in his future endeavours. 15 September 2016 JSE sponsor Java Capital Bermuda Stock Exchange sponsor Estera Securities (Bermuda) Limited Date: 15/09/2016 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.